Despite Distractions, Economic Data Boomed Last Week

Published Friday, July 20, 2018 at: 7:00 AM EDT

Despite all the distractions, the U.S. economy's resilience remains intact. Here are key fundamentals easily lost amid recent headlines dominating the news cycle. Newly released June retail sales data shows consumers are spending bigly. Excluding gasoline, because its volatile price distorts the data, retail sales grew 5.3% in the 12 months ended June 30. That compares to a 3.2% rate of growth achieved in the last 12 months of the last economic expansion. To be clear, retail sales are growing more than 60% faster than in the peak of the last expansion. Retail sales are an indication of consumer strength since...

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This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial advice without consulting a professional about your personal situation.

Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. Past performance is not an indicator of your future results.

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